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Legal Blog
Legal Blog
The Legal Blog brought to you by NVAR's Professional Standards department helps you stay on top of the latest rules and regulations in the industry.
Check back often to keep up with latest information.
Sep 9, 2016
Does the buyer have to consent to sub-agency?
A buyer may decline to work with a sub-agent if he or she prefers to work with a real estate licensee under a buyer agency or non-agency.
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Sep 7, 2016
Bonus Entitlement
MRIS allows brokers to offer bonuses under agent compensation fields. However, because of space limitations, MRIS also further allows a broker to place parameters on the bonus in the agent remarks.
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Sep 7, 2016
I heard that fees are now deferred until settlement, but an association is asking for payment up front. How can this be?
For non-CIC managed associations, payment deferral options are less clear. The Code is silent about when payment is due for the initial packet or certificate request.
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Sep 7, 2016
EPA Renovation Certification in Homes Built Prior to 1978
This article provides only a summary of the main provisions of this new rule. NVAR encourages its members to read the information provided by the EPA on its Web site for a more comprehensive overview of the matter.
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Sep 7, 2016
Are Bidding Dates Proper in MLS?
Standard of Practice 1-6 states, "REALTORS® shall submit offers and counter-offers objectively and as quickly as possible."
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Sep 7, 2016
Can a Non-Licensee Receive a Commission?
Having had the occasion to receive a contract from a non-licensee, I am interested in what you recommend as the way to handle the situation in terms of the validity of the contract. Is a contract written by a non-licensee valid? If so, should the non-licensee be paid a commission?
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Sep 7, 2016
Why even consider sub-agency if it is so rarely used by real estate brokerage firms?
A few listing agents have mistakenly told clients that sub-agency is a listing firms share of the commission while buyer agency is the buyer-brokers share.
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Sep 7, 2016
Case Study - Multiple Offers to be Presented Objectively
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Sep 5, 2016
Avoiding Ethics Problems When Disclosing Information
Realtors® have an obligation to preserve confidential information gained in the course of any relationship with the client
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Sep 5, 2016
Company Name in Advertising
"REALTORS® shall not advertise nor permit any person employed by or affiliated with them to advertise listed property without disclosing the name of the firm."
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Sep 5, 2016
I would like to order three hard copies of the packet or certificate. Will I be charged for the third one?
For CIC managed HOAs, the first two hard copies are included in the initial fee. The association may only charge $25 for each additional hard copy requested.
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Sep 5, 2016
How can I, as the listing agent, avoid paying the cooperative compensation twice if I offer compensation to both sub-agents and buyer agents (or three times if I offer cooperative compensation to sub-agents, buyer agents and non-agents)?
A listing agent does not have to pay a cooperative compensation to more than one cooperating firm.
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Sep 5, 2016
Must a lender pay agreed-upon commission on a short sale transaction?
For short sale listing agents and brokers who have struggled with banks to receive the full amount of the commission outlined in the listing agreement, a court in Iowa has offered some hope
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Sep 2, 2016
Legitimate Teaser or Unethical Listing?
If this is simply a case of the Seller needing to make additional preparations before any buyers are allowed into the property, then a coming soon sign would be appropriate.
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Sep 2, 2016
I would like to order two copies of the packet or certificate update. Will I be charged for the second one?
If the update is requested by a buyer or a settlement agent, the seller or his agent shall receive a copy of it at no additional cost.
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Sep 2, 2016
Agents Buying Selling to One Another are Still Considered Realtors
When representing a buyer, seller, landlord, tenant, or of the client as an agent, REALTORS® pledge themselves to protect and promote the interests of their client.
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Sep 2, 2016
An Antitrust Primer for Realtors®
To comply with federal and state antitrust laws, REALTORS® must have a general understanding of how these laws apply to both their practice and to their operations within their local REALTOR® Association.
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Sep 2, 2016
Can a buyer bring the contractor to the walk-through?
As long as the contractor or home inspector is on the property for purposes of ensuring that work was completed
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Aug 30, 2016
Disclosure Accepted Offers With Unresolved Contingencies
Standard of Practice 3-6 requires disclosure of accepted offers, including those with unresolved contingencies
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Aug 30, 2016
Who Owns the Listing?
If a subscriber transfers from one broker to another broker, the listings do not automatically go to the new office with the agent.
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